Struggling Zurich Insurance Group has lured an AIG veteran to a new executive role in its North American arm.
Don Pickens is Zurich’s new chief underwriting officer for Global Corporate in North America. He was most recently senior vice president and chief risk officer at AIG’s Global Commercial business, but also has previous experience from companies including Hartford Insurance Group and Liberty Mutual.
He’ll replace Patrick Daley, who takes on a new role as head of property for the East Region within the division.
Other changes for Zurich in North America:
- Richard Montminy will become the new head of property for Global Corporate in North America. He joined Zurich in March 2015 as east regional manager of property, and was previously managing director and Southeast Property Practice Leader for Marsh.
- Montminy replaces Joe Tinetti, who will become head of Marine and Energy Property and report to Jeanne Jankowski, head of energy for GCiNA.
Zurich, Switzerland’s largest insurer, is working through operational and underwriting changes after reporting a $183 million operating loss in its general insurance business in third-quarter 2015, and dealing with fallout from $275 million in losses from the August Port of Tianjin explosion in China. Hundreds of job cuts are also underway, and CEO Martin Senn stepped down in December after six years on the job, leaving board member Tom de Swaan as interim CEO.
Source: Zurich Insurance